Do I lose any of my home sale exclusion if I claim a home office deduction?
Answer:
You will not lose any of the $500,000 (married filing jointly) 250,000 (non-jointly filed return) residence sale exclusion if you previously claimed a home office deduction.
However, any depreciation taken after 5/6/97 must be recaptured at a rate of 25%.
You cannot avoid this recapture by not claiming depreciation as a deduction in a given year.
However, any depreciation taken after 5/6/97 must be recaptured at a rate of 25%.
You cannot avoid this recapture by not claiming depreciation as a deduction in a given year.
